There are three options you can sign the contract of sale for the property purchase:
In DKLR Holdings Co (No 2) Pty Ltd v Commissioner of Stamp Duties (NSW), it was held that double duty may apply where the purchaser in the contract is the trust. Some lawyers suggest that the purchaser is the bare trust trustee and not to mention the bare trust name in the contract of sale.
DBA Lawyers has suggested to use the above format as the purchaser in the contract of sale. This format will show the custodian relationship between the bare trust and the SMSF and also their respective trustee names.
This is commonly used because the bare trust trustee is the legal owner of the property to be purchased and the bare trust is the holding entity.
SMSF trustee may be concerned about the double stamp duty if they have not used the correct purchaser name in the contract of sale. From our previous experience, there will no stamp duty applicable when the title to be transferred to the SMSF after the mortgage discharged: